BRICS is important cooperation mechanism among emerging markets- Wang Yi

Chinese Foreign Minister Wang Yi said the BRICS group of Brazil, Russia, India, China and South Africa serves as an important cooperation mechanism among emerging market and developing countries.

Wang Yi disclosed this when meeting with his BRICS counterparts on Thursday in New York.

Speaking about the recent BRICS summit in Xiamen, he noted that the top priority is to implement the outcome of the meeting and turn into actual action the political consensus regarding investment, finance, infrastructure and people-to-people exchanges.

He also called on the five BRICS countries to transform the political consensus of their leaders into pragmatic actions, and continue to work toward the goal of connectivity in trade and investment, currency and finance, and infrastructure.

The Chinese Foreign Minister says he hoped that South Africa, when taking over the rotating BRICS presidency next year, would continue holding dialogues with emerging market and developing countries and expand the impact of the BRICS.

Wang summed up BRICS breakthroughs of the year as having formed a new development pattern of “three-wheel drive” of economy, politics, and people-to-people and cultural engagement.

He emphasized the “BRICS Plus” is a significant innovation that stems from summing up the previous useful practices, and has been recognized by international communities, especially developing countries.

He called on the group to maintain a multilateral trading system, strengthen coordination in macro-economic policies, and stay committed to reforming global economic governance and the implementation of the 2030 Agenda for Sustainable Development and the 2015 Paris Agreement on climate change.